The sentiment was relatively bearish on African equity markets this week. Among the 17 markets we cover, ten retreated while seven advanced. The Lusaka Stock Exchange led the pack as Zambian equities gained 3.35%. Conversely, the Nairobi Securities Exchange was the laggard. Kenyan equities dropped 4.13% this week, the most on the continent.
West Africa
BRVM – Equities in Abidjan rallied this week. Overall, the Composite Index gained 0.61% WoW to close at 176.48. Market activity dropped 27% as XOF 274m (USD 0.50m) worth of shares changed hands every day on average compared to XOF 374m the week before. The market is now up 21.40% year-to-date, and the total market capitalisation amounts to XOF 5,311bn (USD 9.61bn). Bolloré Transport & Logistics is among the top performers this week. Shares in the transport and logistics company soared 19.45% and are up 180% YTD. The market heavyweight, Sonatel , closed lower at XOF 13,700 on Friday (-0.69% WoW) and is now up 1.48% YTD.
NGX – Equities in Lagos cooled down this week. The NGX ASI, the benchmark index of the Nigerian exchange, shed 0.57% WoW, closing on Friday at 39,261.01. Stocks are now down 2.51% YTD. Activity edged up 6% as NGN 1.7bn (USD 4.2m) worth of shares were traded daily on average over the week. The total market capitalisation stands at NGN 20.5tn (USD 49.7bn). Transcorp Hotels is the top performer. Shares jumped 10% and are now up 43.61% YTD. The market heavyweight, Dangote Cement , closed lower at NGN 245 on Friday (-1.84% WoW) and is now up 0.04% YTD.
North Africa
BVC – Moroccan equities retreated as the MASI shed 0.13% WoW. Market activity soared 41% as MAD 104m (USD 11.7m) worth of shares changed hands every day on average compared to MAD 74m the week before. The total market capitalisation stands at MAD 657.8bn (USD 73.8bn), up 13.11% YTD. Douja Promotion Groupe Addoha is among the top performers this week. Shares in the Real Estate company advanced 6.96% and are now up 95.62% YTD. The heavyweight, Maroc Telecom , closed at MAD 141.9 on Friday (up 0.64% WoW). The stock is down 2.14% YTD.
EGX – Bullish sentiment prevailed in Cairo as Egyptian equities closed higher this week. The EGX 30 advanced another 1.58% and closed at 11,301.36 points on Thursday. Compared to the previous week, the average daily turnover declined 17% at around […]
